Weekly Legislative Report for the week of Jan 31, 2022 – Feb 4, 2022
As the first-ever Korean law firm to issue specialized legislative journals, DR & AJU LLC has been publishing the monthly Policy & Business (P&B) Report since August 2019. The P&B Report provides analyses of plenary sessions of the National Assembly, as well as standing committee and subcommittee meetings. In addition, the firm has been co-hosting the Future Leaders Forum with the Herald Business, inviting chairpersons of standing committees to discuss relevant legislative issues and tasks.
As an extension of this service, DR & AJU has also been issuing the Weekly Legislative Report, which covers various legal issues at the center of public debate along with editorials and columns on the Serious Accidents Punishment Act (“SAPA”) from major daily news outlets. The report will be released with an update on newly proposed or pending bills. Enclosed is this week’s legislative report, and please refer to the P&B Report for further details.
If you wish to subscribe to the P&B Report or have any other queries, please contact us at pr@draju.com.
1. Proposed Bill(s)
① Partial Amendment to the Framework Act on the Construction Industry
This Amendment strengthens the current penalty regulations. Under the previous laws, those who violate the regulations are liable to a maximum of 3 years imprisonment or a fine of up to KRW 30 million. With the current amendment, the penalty was strengthened to a maximum of 5 years imprisonment or a fine of up to KRW 50 million.
② Partial Amendment to the Hydrogen Economy Promotion and Hydrogen Safety Management Act
This Amendment obliges the Ministry of Trade, Industry and Energy (“MOTIE”) to improve or abolish the natural gas rate system under the current law, which is used when a gas wholesaler supplies natural gas to a fuel cell power generation business operator, after deliberation by the Hydrogen Economy Committee within five years.
2. Pending Bill(s)
③ Partial Amendment to the Insurance Business Act
This Amendment expands the scope of the Korea Insurance Association’s responsibilities to include insurance-related complaints other than dispute complaints received by the Financial Supervisory Service to allow the Association to handle simple insurance-related complaints.
3. Promulgated Bill(s)
④ Act on Special Measures for Strengthening Competitiveness of and Protecting National HighTech Strategy Industry
This Bill forms a separate committee to deliberate on semiconductor support policies. The Bill mandates the establishment of basic plans for fostering and protecting strategic projects, such as a five-year strategic plan, special cases for rapid processing of approval and permission related to strategic industries, and taxation support.
4. Bill(s) Undergoing Pre-Announcement of Legislation/Administration
⑤ Partial Amendment to the Enforcement Decree of the Act on the Promotion of Saving and Recycling of Resources
This Amendment stipulates imposing a deposit of KRW 300 per cup when putting drinks such as coffee in disposable cups in coffee shops or fast-food restaurants.
5. Serious Accidents Punishment Act ("SAPA") Related Editorials and Columns from Major Dailies
